Report : Europe Security Analytics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Solution and Services), Deployment (On-Premise and Cloud-Based), Application (Network Security Analytics, Endpoint Security Analytics, Application Security Analytics, Web Security Analytics, and Others), Organization Size (Small and Medium Enterprises and Large Enterprises), and Industry (BFSI, Government, Consumer Goods and Retail, IT and Telecom, Healthcare, Energy and Utilities, Manufacturing, and Others)
Professional Services Segment to Dominate Europe Security Analytics Market during 2020–2028
According to a new market research study on “Europe Security Analytics Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component, Deployment, Application, Organization Size, and Industry” is expected to reach US$ 9,823.07 million by 2028 from 3,644.38 US$ million in 2021. The market is estimated to grow at a CAGR of 15.2% from 2021 to 2028. The report provides trends prevailing in the Europe security analytics market along with the drivers and restraints pertaining to the market growth. Adoption of advanced technologies getting popular is the major factor driving the growth of the Europe security analytics market. However, issues associated with scarcity of skilled IT security personals and improper allocation of IT security budgets hinders the growth of Europe security analytics market.
Europe security analytics market is segmented into component, deployment, application, organization size, industry, and country. Based on component, the Europe security analytics market is bifurcated into solution and services. In 2020, the solution segment led the Europe security analytics market, accounting for a larger security analytics market share. Based on deployment, the Europe security analytics market is bifurcated into on-premise and cloud-based. In 2020, the cloud-based segment accounted for a larger security analytics market share. Based on application, the Europe security analytics market is segmented into network security analytics, endpoint security analytics, application security analytics, web security analytics, and others. In 2020, the network security analytics segment accounted for the largest security analytics market share. Based on organization size, the Europe security analytics market is bifurcated into small and medium enterprises and large enterprises. In 2020, the large enterprises segment accounted for a larger security analytics market share. Based on industry, the Europe security analytics market is segmented into BFSI, government, consumer goods and retail, IT and telecom, healthcare, energy and utilities, manufacturing, and others. In 2020, the BFSI segment accounted for the largest security analytics market share. Based on country, the Europe security analytics market is segmented into France, Germany, Italy, UK, Russia, and Rest of Europe. Germany held the largest market share in 2020.
In 2020, the impact of the COVID-19 outbreak differed from country to country across the European region as selected countries witnessed an increase in the number of recorded cases and subsequently attracted strict and longer lockdown periods or social isolation. However, its impact on Western European countries, such as Germany, France, and the UK, was comparatively modest because of their robust healthcare systems. To protect citizens from the virus, the European governments have made tremendous investments in incorporating technologies in healthcare systems to help identify signs of the virus. In 2021, the offices resumed operations after releasing lockdown measures and the ongoing vaccination process.
The COVID-19 pandemic has negatively impacted almost every industry. However, the security industry of information and communications technology was not affected as other industries since businesses allowed their employees to work from home. Due to work-from-home facilities, organizations are realizing the importance of security analytics systems to give businesses the ability to foresee security threats using analytics software. Its value has increased exponentially during the COVID-19 pandemic as threats could destroy the infrastructure of a business and its systems. All these factors are contributing to the positive growth of the security analytics market in the region.
Broadcom, Inc.; Cisco Systems, Inc.; Hewlett Packard Enterprise Development LP (HPE); Huntsman Corporation; IBM Corporation; McAfee, LLC; Rapid7; RSA Security LLC; SolarWinds Worldwide, LLC; and Splunk, Inc. are among the leading companies in the Europe security analytics market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, RSA Security launched it REST API solution that provides the identity, security operations, and incident response teams with visibility into users who exhibit anomalous behavior in the organization based on users’ access patterns.Europe Security Analytics Market, By Country, 2020 and 2028 (%)
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